Alliance & Leicester plc
Alliance & Leicester: H1 2006 results
Alliance & Leicester, which was subject to an unsuccessful takeover bid by Credit Agricole SA, reported a drop in core operating profits for the half year to June 2006. Core operating profit for the period dropped to £268m from £272m last year.
The company did warn that margins were under pressure but the drop in profits […]
Alliance & Leicester: Q1 2006 trading statement
Alliance & Leicester reported an 11% growth in lending in the first three months to March 2006 but warned that interest margins had weakened. The weakening in margins was due to due to a lower mortgage and savings margin and a change in business mix towards lower margin assets.
In particular, the bank seems to have […]
Alliance & Leicester: FY05 results
Alliance & Leicester reported statutory pre-tax profits of £547m for the year to December 2005, almost 7% down from the £587m achieved the previous year. Core operating profits (ie excluding a £1m pre-tax loss from fair value accounting volatility in 2005 and a £52m pre-tax profit on the sale of the merchant acquisition business in […]
Alliance & Leicester: Trading statement
Alliance & Leicester said that full year results for 2005 are likely to be ahead of market, despite shrinking margins. Full year net interest margins to be around 10 basis points lower than last year, a reflection of rising interest rates and a slowing market. The bank is funding a greater proportion of its lending […]
Alliance & Leicester H1 results
Alliance & Leicester, the building society turned bank, reported flat earnings in a market characterised by slowing volumes, shrinking margins and rising bad debts. The bank reported core operating profits £263m for the half year to June 2005 compared to £262m a year ago.
The weak housing market saw Alliance & Leicester’s gross mortgage lending drop […]
Alliance and Leicester: Trading statement
Alliance and Leicester reported slow lending growth (assets grew just 3%) and a decline in interest margins for the first quarter of 2005. Total Group revenues for the first half of 2005 are expected to be broadly similar to 2004.
New mortgage lending has fallen and remortgaging has accounted for half of Alliance and Leicester’s lending […]
Alliance & Leicester
Alliance & Leicester reported a 6% increase in operating profits to £556m but reported that the UK mortgage market had seen a significant slow down in the second half of the year. In the first half of 2004 total gross lending increased by over 17% compared to the same period in 2003, but in the […]
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